Ziarul Financiar reported on Monday that the group was looking to sell the hotel in Bucharest and a number of foreign and local investors had shown interest in it.
“The rumors are false – there isn’t any news: Certainly, we would review any serious bid carefully, but currently Strabag has no intention to actively sell its stake in the JW Marriott hotel,” said Diana Klein, head of corporate communications & investor relations.
As ZF has found, the group got a number of bids, but Strabag wants about EUR160 million for the hotel and the investors offered EUR130 million to EUR140 million. The parties are merely discussing at the moment without any official sale process having been launched. The company has 702 million lei (EUR156 million) debt and a potential sale should extinguish it as Strabag is one of the biggest creditors, ZF has found.
(English version by Loredana Fratila-Cristescu)